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According to a filing with the Securitiexs andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchel l resigned early this month. Mitchelk is a former New York television executivr and currently serves as chief executivr of the Paley Centerfor Media, a New York nonprofit. Ward is the retirerd chief executiveof Atlanta-based Computer Generation Inc., a software Robert Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chiecf executive, resigned from the BofA boar d effectiveMay 29. And on May 29, the bank announced formerd lead independentdirector O.
Temple Sloamn had left the BofA didn’t disclose Sloan’s reasonm for resignation. Sloan had been a BofA directoe for13 years. In early June, four outsider directors were electedto BofA’zs board. They are former Federal Reserve GovernoSusan Bies, former Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donaldc Powell and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intenses scrutiny in recent months as the bank suffere d through asharp stock-price decline after acquiring Merrilol Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billiob in taxpayer aid. At the bank’a annual meeting in late shareholders voted to strip Chiev Executive Kenneth Lewis of his position asboared chairman. Walter Massey was installee as the new chairman and has indicatedr the board needs tobe re-evaluated. Lewis remainsz the bank’s CEO and president.
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